Draw up a statement of cash flows for Gerry Peace for the year ending 31 December 2013 using the IAS 7 layout. You are told that fixtures bought in 2003 cost £400, whilst a van was bought for £5,500.

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Non-current assets Buildings Fixtures less Depreciation Van less Depreciation Current assets Inventory Trade accounts receivable Bank Cash Total assets Current liabilities Accounts payable Bank overdraft Gerry Peace Statements of Financial Position as at 31 December 2012 Non-current liabilities Loan (repayable in 10 years' time) Total liabilities Net assets Capital account: Balance at 1 January Add Net profit for the year Cash introduced Less Drawings Total capital 5,600 6,400 900 220 6,300 6,300 10,000 50,000 1,800 3,920 55,720 13,120 68,840 (16,300) 52,540 37,040 35,200 72,240 (19,700) 52,540 12,400 8,200 200 3,006 94 3,100 15,000 2013 50,000 2,000 7,400 59,400 20,800 80,200 (18,100) 62,100 52,540 21,160 10,000 83,700 (21,600) 62,100